Funds
Milford Balanced Fund
Issues of concern
The graph below shows the percentage of the fund invested in each of the worst issues of concern to New Zealanders. Below the graph are listed all the companies this fund invests in, by issue of concern.
Key:
- Adult Entertainment/Pornography
- Alcohol
- Animal Cruelty
- Fossil Fuels
- Gambling
- GMOs
- Human Rights & Environmental Violations
- Palm Oil
- Tobacco
- Weapons
Companies of concern
Fossil Fuel
- Contact Energy Ltd 2.31%
- Shell PLC 1.52%
- Santos Ltd 0.93%
- Cheniere Energy Inc 0.38%
- Eog Resources Inc 0.33%
- Viva Energy Group Ltd 0.27%
- BHP Group Ltd 0.25%
- Ampol Ltd 0.18%
- Rwe AG 0.12%
- South32 Ltd 0.11%
- Occidental Petroleum Corp 0.05%
- Woodside Energy Group Ltd 0.03%
- Enbridge Inc 0.01%
- Tc Energy Corp 0.01%
- Williams Cos Inc 0.01%
Weapons
- Transdigm Group Inc 0.06%
Gambling
- Aristocrat Leisure Ltd 0.06%
Alcohol
- Pernod Ricard SA 0.50%
- Delegat Group Ltd 0.14%
- Foley Wines Ltd 0.02%
Human Rights & Environmental Violations
- Shell PLC 1.52%
- Meta Platforms Inc 0.37%
- Thermo Fisher Scientific Inc 0.31%
- BHP Group Ltd 0.25%
- Rio Tinto Ltd 0.03%
Animal Cruelty
- Shell PLC 1.52%
- Graincorp Ltd 0.14%
- LVMH Moet Hennessy Louis Vui 0.07%
- Estee Lauder Cos Inc/The 0.06%
- L'Oreal SA 0.05%
- L'Oreal SA - Pf 0.02%
This data is compiled by Mindful Money from the fund information and portfolios
that each fund has
filed with the Disclose register to 30th Sept. 2022 and Mindful Money
analysis of funds within those portfolios. The list of companies of concern has
been drawn from ratings agencies and public sources, including the Norwegian
Sovereign Fund, NZ Super Fund, Sustainalytics and research organisations.
Please note that companies may breach more than one of these areas of
concern.
The listing of companies of concern is based on definitions used in Mindful Money's
methodology. These definitions may
be different from the exclusions policy and definitions applied by the fund provider.
Mindful Money uses the term Mindful Funds as our standard
for ethical investment and responsible investment. This does not imply that
other funds are unethical or that the fund providers that do not meet these
standards are unethical providers.
About this fund
In their own words
The Fund’s objective is to provide capital growth after the base fund fee but before tax and before the performance fee, over the minimum recommended investment timeframe of five years.
It is a diversified fund that primarily invests in equities, with a significant allocation to fixed interest securities.
| Value | $1.6B NZD |
| Period of data report | 31st Dec. 2022 |
| Fund started | 1st April 2010 |
| Total annual fund fees | 1.17% |
| Total performance based fees | 0.12% |
| Manager's basic fee | 1.04% |
| Other management and administration charges | 0.01% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Mark Riggall |
Currently: Portfolio Manager, Senior Dealer (8 years, 0 months) |
|
Paul Morris |
Currently: Portfolio Manager (6 years, 11 months) |
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.
Investment Exclusions
Does this fund exclude companies that cause deep concern to New Zealanders? The first column shows if the fund has a credible policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).
Note that the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or the fund’s exclusion policy and thresholds may be different from the definitions applied by Mindful Money.
| Issue of concern | Does this fund say it excludes this? | Actual holdings |
|---|---|---|
| Adult Entertainment /Pornography | 0.00% | |
| Alcohol | 0.67% | |
| Animal Cruelty | 1.85% | |
| Fossil Fuels | 6.62% | |
| Gambling | 0.06% | |
| GMOs | 0.00% | |
| Human Rights & Environmental Violations | 2.48% | |
| Palm Oil | 0.00% | |
| Tobacco | 0.00% | |
| Weapons | 0.06% |
This data is compiled by Mindful Money from the fund information and portfolios
that each fund has
filed with the Disclose register to 30th Sept. 2022 and Mindful Money
analysis of funds within those portfolios. The list of companies of concern has
been drawn from ratings agencies and public sources, including the Norwegian
Sovereign Fund, NZ Super Fund, Sustainalytics and research organisations.
Note that many
funds exclude controversial weapons. However, the category of Weapons used in
this analysis is broader in scope, covering all munitions, firearms and
military weapons. Similarly Mindful Money uses a broader scope for fossil fuels
than the government’s rules for default KiwiSaver funds. The full definitions
used in the Mindful Money analysis are here.
Past Returns
Past annual returns for this fund are after fees and taxes. Please note that higher past returns do not always mean higher future returns.
| Year | Market Average | Fund Annual Return |
|---|---|---|
| 2022 | 0.34% | 5.31% |
| 2021 | 17.46% | 23.49% |
| 2020 | -1.59% | -1.02% |
| 2019 | 4.47% | 5.98% |
| 2018 | 4.41% | 7.39% |
| 2017 | 5.71% | 8.13% |
| 2016 | 3.06% | 4.09% |
| 2015 | 8.56% | 14.53% |
| 2014 | 6.13% | 10.11% |
| 2013 | 8.77% | 17.36% |
The market average is the average return for funds of the same risk category, sourced from the Commission for Financial Capability's Sorted website. The fund information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.
Top 10 Investments
-
NZD Cash Current Account (Nab Bank)
New Zealand Cash and Equivalents AA-3.48% -
Contact Energy Ltd
New Zealand Australasian Equities2.19% -
NZ Government Inflation Indexed 2.00% 20/09/2025
New Zealand NZ Fixed Interest AAA1.34% -
Hca Holdings Inc
United States International Equities1.33% -
Origin Energy Ltd
Australia Australasian Equities1.31% -
Shell PLC
Netherlands International Equities1.3% -
Elevance Health Inc
United States International Equities1.26% -
Telstra Corp Ltd
Australia Australasian Equities1.12% -
Boston Scientific Corporation
United States International Equities1.02% -
Natwest Group PLC
United Kingdom International Equities1.01%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 8.0% | 23.42% |
| New Zealand Fixed Interest | 6.0% | 6.76% |
| International Fixed Interest | 25.0% | 28.66% |
| Australasian Equities | 24.0% | 16.07% |
| International Equities | 30.0% | 18.65% |
| Listed Properties | 7.0% | 4.77% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 1.67% |
| Commodities | 0.0% | 0.0% |
Investment Mix
How the money in this fund is invested against the fund's targets.
Target
Actual
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.